TENANT FEE SCHEDULE
Holding Deposit (per Tenancy / Occupation Contract)
One Week’s Rent- This payment is required to reserve the property or dwelling. Please note, it will be withheld if any relevant party (including any guarantor(s)) withdraws from the tenancy or contract, provides materially significant false or misleading information, or fails to sign the tenancy agreement/Occupation Contract (and/or Deed of Guarantee) within 15 calendar days (or another deadline for agreement as mutually agreed in writing).
For corporate tenants (PLC, Ltd, or LLP), an administration fee is payable instead of a holding deposit to reserve the property or dwelling.
Security Deposit - Five weeks rent. This covers any damages or defaults caused by the tenant/contract-holder during the tenancy/occupation contract
Reposit Fee (Alternative Deposit Option)
Reposit is not a deposit, it is an alternative to a cash deposit. Therefore, it works slightly differently. At the time of signup, you are required to pay a Reposit fee which is the equivalent of one weeks rent (split between all tenants - subject to a minimum of £150) as a non-refundable fee so that you dont have to pay a cash deposit which is usually 5 weeks worth of rent.
As this fee is non-refundable, it cannot be used against any end-of-tenancy charges the letting agent may raise at the end of your tenancy.
However, Reposit is optional and it is up to you whether or not you want to purchase it. If you need more information in order to make a decision please get in touch with us
Security Deposit - Six weeks’ rent* This covers any damages or defaults by the tenant/contract-holder during the tenancy/occupation contract. *If you plan to have pets at the property/dwelling, a higher deposit may be required. Please contact the branch for more information
Unpaid Rent - Interest will be charged at 3% above the Bank of England Base Rate from the rent due date until the rent is paid, to cover the pursuit of non-payment. Please note: This charge will not be applied until the rent is more than 14 days overdue.
Company Tenant - £600.00 (inc. VAT) This is to reserve a property / dwelling and is a non-refundable referencing fee, set up fee and contribution to the tenancy agreement. A full security deposit will also be required (Company tenant is defined where the tenant will be PLC, Ltd or LLP)
Lost Key(s) or other Security Device(s)
Tenants/Contract-holders are responsible for the actual cost of replacing any lost keys or security devices. If the loss requires changing locks, the tenant/contract-holder will be charged for the locksmiths fees, new locks, and replacement keys for the tenant/contract-holder, landlord, and anyone else needing keys. Additionally, if extra time is required to replace lost keys or security devices, a charge of £25 per hour (inc. VAT) may apply.
Variation of Contract (Tenant’s Request) (England)
£50 (inc. VAT) per replacement tenant, or any reasonable costs incurred if higher, to cover the expenses related to obtaining the landlords instructions, new tenant referencing and Right to Rent checks, deposit registration, as well as the preparation and execution of new legal documents.
Early Termination (Tenant Request)
If the tenant wishes to terminate their contract early, they will be responsible for the landlord’s costs associated with re-letting the property/dwelling, as well as any rent due under the tenancy/occupation contract until the start date of the replacement tenancy/occupation contract. These costs will not exceed the maximum amount of rent remaining on the tenancy/occupation contract.
Monkey vs Owl holds membership in the Property Redress Scheme. (PRS) - PRS050225
Our deposits are safeguarded by the Deposit Protection Service (DPS) - 4055105
Safeagent Client Money Protection Scheme (CMP) - A8148

Studio Flats To Rent in West Midlands